Advertisements
Advertisements
Questions
Define welfare economics.
State any definition of welfare economics.
What is welfare definition of economics?
Definition
Advertisements
Solution 1
According to Oscar Lange, “Welfare economics is concerned with the conditions which determine the total economic welfare of a community.”
shaalaa.com
Solution 2
According to Pareto, the total economic welfare is the sum of individual’s welfare as that part of general welfare which “can be brought directly or indirectly into relation with the measuring rod of money.”
shaalaa.com
Solution 3
According to Marshall, “Economics is a study of mankind in ordinary business of life, it deals with all human activities connected with acquisition and use of wealth.”
shaalaa.com
Is there an error in this question or solution?
